Crypto Asset Manager BlockTower Launches $150M Venture-Capital Fund

BlockTower has also created a new venture-capital arm.

AccessTimeIconOct 13, 2022 at 4:36 p.m. UTC
Updated Oct 13, 2022 at 9:33 p.m. UTC

Brandy covers crypto-related venture capital deals for CoinDesk.

Crypto-focused asset-management firm BlockTower has launched a venture capital arm with a new $150 million fund to back decentralized-finance (DeFi) and blockchain-infrastructure projects. The fund has operated in stealth since December and counts BPI France and MassMutual among its financial backers.

The new venture-capital arm will be led by general partner Thomas Klocanas, a veteran of investment firm White Star Capital, who confirmed the fund details during a call with CoinDesk.

BlockTower is one of several notable crypto investment firms that is a registered investment advisor (RIA), which gives the firm more flexibility particularly when it comes to liquid and illiquid token investments. Recent BlockTower investments have included layer 1 blockchain Aptos and institutional finance network Maple Finance.

The Block was the first to report on news of the launch.

UPDATE (Oct. 13, 21:33 UTC): Adds BlockTower confirmation and removes 'Report' from the headline.

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Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.